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Co-founder of BlackBerry, Mike Lazaridis, sells $26 million worth of BlackBerry shares

0. phoneArena posted on 24 Dec 2013, 22:10

BlackBerry co-founder Mike Lazaridis, who years later claimed to have understood the implications of the Apple iPhone on BlackBerry's then booming business, has cashed in $26 million worth of BlackBerry stock. The 3.5 million shares that were soldby Lazaridis lowers his stake in the company to 4.99% from 5.68%. The sale was done in two parts starting on Monday when3.17 million shares were sold at an average price of $7.55...

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posted on 24 Dec 2013, 22:21

1. Jeradiah3 (Posts: 1118; Member since: 11 Feb 2010)

If the Co-Founder of Blackberry sells ALL of his own company's stock...................Blackberry is about to down in flames. What message are you sending to everyone when you sell your own stock?? I feel bad for blackberry because a few years ago they were on top of the world even when the iPhone was popular.

It goes to show that you cant play catchup in the ever-changing mobile industry

posted on 24 Dec 2013, 22:28

2. QWIKSTRIKE (Posts: 1276; Member since: 09 Mar 2010)

Blackberry Storm killed them....they tried to answer Motorola Droid witha touch phone and failed miserably at that. The storm as a touch phone really sucked, ad was buggy to boot. They never recovered from that blunder.

They just recently came out with Blackberry 10, and that is what the Blackberry storm should have been. Too little tooooooooooooooo late.rofl

posted on 24 Dec 2013, 23:16 1

4. Alan01 (Posts: 439; Member since: 21 Mar 2012)

Actually, the BlackBerry Storm was launched via Verizon about a year before the Motorola DROID.

The Storm was RIM's answer to the iPhone. It came to market over hyped but half baked.

The DROID, on the other hand, was a huge hit right off the bat.

Alan F.

posted on 25 Dec 2013, 00:14 1

5. digicon (Posts: 121; Member since: 11 Aug 2011)

Thanx for keeping it real . . .

posted on 24 Dec 2013, 23:08 1

3. fanboy1974 (Posts: 1345; Member since: 12 Nov 2011)

I don't blame him. Smart move.

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